Oil Production Cut
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Gulf Nations, Russia To Cut Oil Production By Over 1 Million Barrels Per Day
Cuts by Saudi Arabia, the UAE and Kuwait totalling 772,000 barrels per day (bpd) will take effect from May and last for the rest of the year, they said in statements released by official media.
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Russia's Putin Warns Of Production Cuts Over $60 Oil Price Cap
President Vladimir Putin warned Friday that Russia could reduce oil production in response to a $60 price cap on its oil exports agreed by Western nations over Moscow's Ukraine offensive.
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"US Will React To Saudi Arabia": Biden After OPEC+ Group Cuts Oil Output
US President Joe Biden on Wednesday said his administration will take action against Saudi Arabia after the Riyadh-led OPEC+ alliance announced plans to cut oil production, a move that America said would support oil exporters such as Russia
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Joe Biden "Disappointed" With Oil Producers OPEC+ Output Cut Move
President Joe Biden is "disappointed" with the OPEC+ cartel's decision to slash oil production output, saying it will hurt the world economy, the White House said Wednesday.
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Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
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Opinion: India Gorges On Cheap Russian Crude, But There's A Big Risk
Indian oil refiners are sucking up cheap Russian crude, but the risk is that their exports of refined products will eventually attract sanctions from countries determined to cut Russian energy out of global markets.
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Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
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Biden Says Weighs Reducing Tariffs On China, Asking OPEC To Pump More Oil
Joe Biden said he was weighing cutting tariffs on Chinese goods while increasing calls on OPEC to raise oil production
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Electric Vehicles May Cut Global Refining Capacity Demand By Half In 2050: Report
Electric vehicles will cut global consumption of petrol and diesel, but demand for other refined oil products in aviation, maritime and petrochemical sectors could remain high because of urbanisation.
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Oil Refiners Worldwide Struggle With Weak Demand, Inventory Glut
Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts.
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India's Oil Imports, Product Exports Slow Down In March
India's March crude oil imports rose at the slowest pace this year, while refined product exports also rose but at a lower rate as some refineries cut back crude processing as the coronavirus outbreak crushed demand for fuel. Crude oil imports in March rose 1.8% to 19.52 million tonnes from a year earlier, having risen 9% in the previous month, acc...
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Saudis, Russians "Close To Deal", Says Donald Trump As Oil Prices Plummet
US President Donald Trump said Thursday that Russia and Saudi Arabia are "close" to agreeing on production cuts to prop up oil prices.
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"Locked And Loaded To Respond": Trump On Saudi Aramco Drone Attacks
President Donald Trump announced on Sunday that he has authorized the release of oil from US strategic reserves after drone attacks cut Saudi Arabia's crude production by half.
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New Saudi Oil Minister Backs Cuts In Production
Saudi Arabia's new energy minister, Prince Abdulaziz bin Salman, said Monday that oil production cuts would benefit all exporting nations, in an indication he will support further reductions to address an oversupplied market and sagging prices.
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Russia, Saudi Arabia To Extend OPEC Production Cut Deal: Vladimir Putin
Russia and Saudi Arabia have agreed to extend a deal to keep oil production low owing to abundant world supplies, President Vladimir Putin said on Saturday.
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Gulf Nations, Russia To Cut Oil Production By Over 1 Million Barrels Per Day
Cuts by Saudi Arabia, the UAE and Kuwait totalling 772,000 barrels per day (bpd) will take effect from May and last for the rest of the year, they said in statements released by official media.
-
Russia's Putin Warns Of Production Cuts Over $60 Oil Price Cap
President Vladimir Putin warned Friday that Russia could reduce oil production in response to a $60 price cap on its oil exports agreed by Western nations over Moscow's Ukraine offensive.
-
"US Will React To Saudi Arabia": Biden After OPEC+ Group Cuts Oil Output
US President Joe Biden on Wednesday said his administration will take action against Saudi Arabia after the Riyadh-led OPEC+ alliance announced plans to cut oil production, a move that America said would support oil exporters such as Russia
-
Joe Biden "Disappointed" With Oil Producers OPEC+ Output Cut Move
President Joe Biden is "disappointed" with the OPEC+ cartel's decision to slash oil production output, saying it will hurt the world economy, the White House said Wednesday.
-
Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
-
Opinion: India Gorges On Cheap Russian Crude, But There's A Big Risk
Indian oil refiners are sucking up cheap Russian crude, but the risk is that their exports of refined products will eventually attract sanctions from countries determined to cut Russian energy out of global markets.
-
Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
-
Biden Says Weighs Reducing Tariffs On China, Asking OPEC To Pump More Oil
Joe Biden said he was weighing cutting tariffs on Chinese goods while increasing calls on OPEC to raise oil production
-
Electric Vehicles May Cut Global Refining Capacity Demand By Half In 2050: Report
Electric vehicles will cut global consumption of petrol and diesel, but demand for other refined oil products in aviation, maritime and petrochemical sectors could remain high because of urbanisation.
-
Oil Refiners Worldwide Struggle With Weak Demand, Inventory Glut
Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts.
-
India's Oil Imports, Product Exports Slow Down In March
India's March crude oil imports rose at the slowest pace this year, while refined product exports also rose but at a lower rate as some refineries cut back crude processing as the coronavirus outbreak crushed demand for fuel. Crude oil imports in March rose 1.8% to 19.52 million tonnes from a year earlier, having risen 9% in the previous month, acc...
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Saudis, Russians "Close To Deal", Says Donald Trump As Oil Prices Plummet
US President Donald Trump said Thursday that Russia and Saudi Arabia are "close" to agreeing on production cuts to prop up oil prices.
-
"Locked And Loaded To Respond": Trump On Saudi Aramco Drone Attacks
President Donald Trump announced on Sunday that he has authorized the release of oil from US strategic reserves after drone attacks cut Saudi Arabia's crude production by half.
-
New Saudi Oil Minister Backs Cuts In Production
Saudi Arabia's new energy minister, Prince Abdulaziz bin Salman, said Monday that oil production cuts would benefit all exporting nations, in an indication he will support further reductions to address an oversupplied market and sagging prices.
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Russia, Saudi Arabia To Extend OPEC Production Cut Deal: Vladimir Putin
Russia and Saudi Arabia have agreed to extend a deal to keep oil production low owing to abundant world supplies, President Vladimir Putin said on Saturday.
